Xiaomi, Realme, Vivo dent Apple & Samsung’s business in India

Samsung, Apple, Sony and Panasonic — the leading quartet of Indian consumer electronics — have run into the Chinese Wall, and persistent price encounters locally have dented their business.

The Big Four reported profit declines or wider losses in FY19 even as the Chinese brigade, led by Xiaomi, Oppo and Vivo, continued to post losses in India.

Local brands such as Intex and Mirc Electronics, which owns Onida, also plunged into losses in FY19, the latest regulatory disclosures showed. Two senior industry executives said the price war has continued into FY20 and margins continue to remain under stress, meaning more companies may report lower profit or tip into losses.